The Pension Fund of Búnaðarbanki Íslands hf. employees was previously called the Retirement Fund of Búnaðarbanki Íslands employees. When Búnaðarbanki Íslands was converted into a limited company on January 1, 1998, the fund was renamed to Pension Fund of Búnaðarbanki Íslands hf. employees. With this change, the state guarantee was abolished and the bank paid into the fund an amount that at the time was deemed sufficient to cover its future obligations. Today, fund members pay a monthly contribution of 4% of their salary while the employer contributes 14.4%.
The fund is a defined benefit fund, where the accrual of rights is 2.125% for each year in a full-time position. During the change on January 1, 1998, fund members had the option to either remain in the defined benefit fund or transfer their rights to a point-based fund and a private pension fund. After this selection, the fund was closed, and therefore no new members have joined the fund since that time.
A strong team of specialists works at Arion Bank's Pension Services, ready to assist you with your pension matters. If you have any questions, do not hesitate to contact us by phone at 444 7000. We are available by phone from 10 to 12 and 13 to 15, on all weekdays.
Reception and services for fund members are located at Arion Bank, Borgartún 19, 105 Reykjavík. You can also send an email to lifeyristhjonusta@arionbanki.is.
Application for old-age pension payments
Application for half old-age pension payments
Application for spouse and child pension payments
Application for disability and child pension payments
An application for the division of old-age pension rights can be obtained from the Federation of Icelandic Pension Funds.
Studies at the University of Iceland School of Engineering 1979–1981
Bachelor of Business Administration (Cand. Ökon) from the University of Iceland 1985
Head of Special Loans, later Asset Restructuring, at Landsbankinn 2008–2015
Assistant Managing Director at the Commercial Banking Division of Landsbankinn August 2008 to December 2008
Managing Director of the Commercial Banking Division of Kaupthing from May 2003 to April 2008
Assistant Managing Director of the Retail Division of Búnaðarbanki Íslands hf. from January 2002
Managing Director of the Business Centre of Sparisjóðabanki Íslands hf. September 1999 to 2002
Head of Securities Trading at Búnaðarbanki 1993, Head of Treasury and Assistant Managing Director from 1996 to 1999
Specialist at the Industrial Development Fund and Managing Director of Draupnissjóðurinn 1991 to 1993
Head of Securities Market at Útvegsbankinn hf. 1988 and, following the bank's merger into Íslandsbanki, Head of the Planning Division of the bank, holding that position until 1991
Chief Financial Officer of the Technological Institute of Iceland 1985 to 1988
BS.c. degree in Economics from the University of Iceland 2019
MS in Economics from Barcelona School of Economics with a focus on Macroeconomics and Financial Markets 2021
Works as an Economist at the Icelandic Tourism Association since 2022
Economist at the Economics and Monetary Policy Department of the Central Bank of Iceland 2021-2022
Specialist in Asset Management for Professional Investors at Arion Bank 2019-2020
Board member and one of the founders of HKH - Women in Economics Interest Group
Business Administration degree from the University of Iceland 1991
Certified Securities Broker 2002
Office Manager at Búnaðarbanki Selfoss 1991-94
Branch Manager at Búnaðarbanki Selfoss 1994-2005
Head of Credit Control at Landsbanki 2005-08
Head of Commercial Banking Division at LB 2008-11
Chairman of the Professional Council at LB 2011-2014
Loan Specialist in Credit Assessment at LB 2014-2025
Bergrún Lilja Sigurjónsdóttir, elected at the annual meeting 2022
Sigurður Kristjánsson, elected at the annual meeting 2021
Sveinn Gíslason, first appointed by Arion Bank as an alternate member 2025
Ásta Eyjólfsdóttir
Diljá Matthíasardóttir
Ingimundur Sigurmundsson
In this discussion, we will review how LSBÍ has approached the development of domestic specialized investments, along with highlights of individual investments.
The Annual General Meeting of LSBÍ will be held on June 9th at 17:15 at the headquarters of Arion Bank at Borgartún 19. As usual, the building will open one hour earlier at 16:15.
Typically refers to investments that differ from traditional stock and bond investments in that they are often unlisted, have longer lock-up periods, and the assets are more difficult to sell in the short term.
LSBÍ cares about privacy and the processing of personal data. The privacy of individuals is of great importance to the fund, and particular emphasis is placed on ensuring that personal data is processed in a lawful, fair, and transparent manner. LSBÍ outsources asset management and the daily operations of the fund, with the exception of executive management, to Arion Bank based on an agreement with the bank. Therefore, nearly all processing of personal data takes place at Arion Bank. LSBÍ and Arion Bank act as joint controllers for the processing carried out by Arion Bank on behalf of the fund. All processing of personal data is carried out in accordance with applicable data protection laws. More information on how Arion Bank processes personal data on behalf of LSBÍ can be found in Arion Bank's privacy statement, here. The privacy statement applies to all members of the fund and others who may contact LSBÍ.